Guideline Value for BAJANAI KOIL STREET

Bajanai Koil Street guideline value

The current guideline value of Bajanai Koil Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and falls under the Residential Class IV Type - III land classification.

How the guideline value of Bajanai Koil Street has changed

The guideline value for Bajanai Koil Street has seen several revisions over the years. In 2002, the value was Rs 428 per sq.ft, which increased to Rs 480 per sq.ft in 2003. The value then rose significantly to Rs 860 per sq.ft in 2007, followed by a substantial increase to Rs 2,700 per sq.ft in 2012. However, it decreased to Rs 1,809 per sq.ft in 2017. The value then climbed to Rs 2,700 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024. The changes between these revisions include a 4% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 214% increase from 2007 to 2012, a 79% increase from 2003 to 2007, and a 12% increase from 2002 to 2003.

Overall, from 2002 to 2024, the guideline value has increased by 554%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, making Bajanai Koil Street's 2024 figure below that median.

• Ayyothiamman Koil Street: Rs 2,500 per sq.ft (2024)
• Avvai Street: Rs 2,500 per sq.ft (2024)
• Balaji Nagar (Padi): Rs 4,400 per sq.ft (2024)
• ASIAD COLONY (7th Avenue): Rs 13,100 per sq.ft (2024)
• BASKAR NAGAR (S.No.356/2): Rs 2,500 per sq.ft (2024)
• A.P.PLOTS 9th STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajanai Koil Street?

The Sub Registrar Office that covers Bajanai Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Padi

The guideline value is a crucial factor in property transactions in Padi, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Bajanai Koil Street?

The current guideline value of Bajanai Koil Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 428 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 554% over the years.

What is the median guideline value in Padi village?

The median guideline value in Padi village is Rs 3,800 per sq.ft, which is higher than the current value of Bajanai Koil Street.

What are the stamp duty and registration fees for properties in Bajanai Koil Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations for Bajanai Koil Street?

The Villivakkam Sub Registrar Office handles property registrations for Bajanai Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.